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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: space cadet who wrote (22652)	8/10/1999 2:05:00 AM
From: Clint E.	Read Replies (2) \| Respond to of 69262

Hi Space. >>>>Finally got out in time before the mm's could kill me. Don't know why I didn't short stuff in mid July. I knew the market then was ridiculously overvalued/overextended. Same with me. Too many of us are concerned with what happens at 9:30 AM tomorrow, an hour later, or tomorrow afternoon as opposed to next week or weeks. We don't want to admit it but since there are so many mixed signals and so many hands in the market, majority of us have turned into day traders and as such have lost our vision or even self-confidence. Nowadays, all we wish to do is to catch the next ride up or down. Not realizing that we are on board of a multi-day or multi-week ride we exit after experiencing the smallest change in direction because we have all learned to take profit and cut loss. I asked somebody who claimed to have shorted RBAK for fundamental reasons whether he would cover at his predicted price of ~30 in six months. His answer was that he would cover north of 30! The fact is that he has no clue where RBAK would be in six months. None of us do. We are all under pressure to turn "swiftly" with the market. Even Acampora was pressured to change his short-term forecast right away, instead of waiting for further confirming signs. Clint